AES Global Insurance Company, LLC (AGIC) has had its Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) affirmed by AM Best. The outlook for the ratings is stable.
According to Ci DataHub, AGIC was formed in 2002 and is managed by Aon.
“AGIC continues to demonstrate strong operating performance through its favourable underwriting results and from an inherently low expense structure inherit to its nature as a single-parent captive,” AM Best stated in its report.
“Reflected in the ratings are AGIC’s sound risk management capabilities with a focus on sustaining improved capitalization, underwriting performance and conservative balance sheet strategies.”
AGIC is a single parent captive owned by the Fortune 500 global energy company and, according to the ratings agency, is “an integral extension of its parent’s overall risk management framework”.